22.04.2005 – 11:48

Meinl European Land Limited

euro adhoc: Meinl European Land Limited
Mergers - Acquisitions - Takeovers
Meinl European Land’s ongoing growth Hungarian Portfolio extended by 2 shopping centres Total portfolio value reaches 670 million Euro

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22.04.2005

30 million Euro invested in new projects - Anchor tenants Spar &
Metro group

Meinl European Land, the property group focused on retail real estate
in Central and Eastern Europe, has deepened its presence in Hungary.
Yesterday contracts were signed for two shopping centres, in Budapest
and Szombathely, with a total lettable area of 27,000 sqm and total
investment value of 30 million Euro. Both centres are occupied on
long-term leases by international retail companies, including Spar
and Metro. Metro is a tenant with outlets of its electronic and
do-it-yourself chains, Mediamarkt and Praktiker. Following these
acquisitions the value of the Hungarian portfolio exceeds 100 million
Euro.

Portfolio value up by 30% so far this year; solid project pipeline

Meinl European Land’s portfolio today comprises 170 properties with a
total area of more than 700,000sqm and a total market value of
approximately 670 million Euro, located in 6 Eastern European
countries. Tenants are well-known international retail companies who
occupy the properties on long-term leases that currently generate
aggregate annual rental income of 63 million Euro. Since the
beginning of the year, Meinl European Land has enlarged its portfolio
by more than 30%; by the end of the year the portfolio is expected to
more than double in value. Retail properties with a total value of
400 million Euro are currently under due diligence.

Positive share price performance sees market capitalisation above 1.3
billion Euro

As well as the dynamic expansion seen in the operations, the share
price has also continued its positive development. Yesterday’s
closing share price, 13.75 Euro, represents a gain of approximately
6% since the beginning of the year. Following the capital increase in
March 2005, there are 96 million shares listed on the Vienna Stock
exchange with a market capitalisation today of over 1.3 billion Euro.

end of announcement                    euro adhoc 22.04.2005 11:12:33 

Further inquiry note:

Pleon Publico Public Relations & Lobbying
Mag. Claudia Müller-Stralz
Tel.: ++43 (0) 1/717 86 107
mailto:claudia.mueller@pleon-publico.com

Branche: Real Estate
ISIN: AT0000660659
WKN: 066065
Index: Standard Market Auction
Börsen: Wiener Börse AG / official dealing